Ess Tech, Inc. · NYSE:GWH
Ess Tech — 38th Annual ROTH Conference (March 2026)
17 slides from Ess Tech's conference presentation, Mar 23, 2026
Slide 1: Catalyzing a Cleaner Future. Every Day.
Catalyzing a Cleaner Future. Every Day. Investor Presentation NYSE: GWH March 2026
Slide 2: Disclaimers
Disclaimers No part of this presentation may be reproduced, photocopied, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose without the consent of ESS Tech, Inc. (“ESS”). This presentation contains certain “forward-looking stat
Slide 3: Corporate Overview
Corporate Overview ESS is the leading manufacturer of long-duration iron flow energy storage solutions. • “Energy Base”: 10-20 hour long-duration energy storage systems (LDES) for 24/7 renewable power where Li-ion is too costly, unsafe, or inefficient • Iron flow: stores energy using iron, salt, and
Slide 4: Company Timeline
Company Timeline 2025 A New Horizon • Strategic pivot to a single new product to attack the 2028 & Beyond fastest growing energy market segments Industry Standard Profits at Scale • Flagship projects with SRP/Google and US Air Goal to achieve $100M+ of Force/CTC EBITDA in 4-5 years • Refocused on co
Slide 5: Global Energy Storage Market & ESS Addressable Segments
Global Energy Storage Market & ESS Addressable Segments Demand for power is inflecting Global Energy Storage Market The EIA now expects U.S. electricity use to set new records in 2025 Installed Base in Terrawatt1 and 2026, reversing a decade of flat demand after the mid-2000s driven in part by surgi
Slide 6: Long Duration Energy Storage Opportunity
Long Duration Energy Storage Opportunity A Significant SAM within a Massive TAM Solving the 24-Hour Day Long Duration Energy Storage Market $ in Billions1 Long-duration batteries are required to support the baseload when solar and 10.6% $8.7 wind are not producing CAGR <10 Hours 10-20 Hours 20+ Hour
Slide 7: LDES Market Size by Customer Segment
LDES Market Size by Customer Segment $3.5B TAM in 2025 Growing to $8.7B by 2034 at 10.6% CAGR Utilities & Grid Operators $1.5B → $3.7B $3.7B Utilities & Grid Operators $2.4B Firming renewables, replacing peaker plants, transmission $1.5B deferral $2.0B Indep. Power Producers & Developers $0.8B → $2.
Slide 8: Energy Base
Energy Base Flagship Long-Duration Storage Solution • Purpose built to deliver 10–20 hour long-duration storage where lithium economics break down, • Enables renewable energy to provide reliable, around-the-clock power, and scalable to longer durations • Iron flow core technology aligns directly wit
Slide 9: Iron Flow Battery - Proprietary Core Technology
Iron Flow Battery - Proprietary Core Technology Safe, Durable, and Domestically Sourced Alternative to Lithium-ion Iron flow battery stores energy using iron, salt, and water Key Patented Technologies Create Significant IP Moat Battery Cell Proton Pump High build-complexity Battery Module component
Slide 10: Lithium vs. Iron Flow
Lithium vs. Iron Flow IFB Has Clear Advantages LFP dominates in short durations (2-8h), making up 80%+ of new battery installations in this segment. Exposed Supply Chain Iron Flow Batteries cost and 98% of LFP cathode production is in China, and over technology advantages 90% of Li-ion batteries are
Slide 11: LCOS Comparison: Iron Flow vs. Lithium
LCOS Comparison: Iron Flow vs. Lithium IFB Advantage Grows With Duration Key Takeaways IFB LFP 0.3 Iron Flow is cheaper at every duration 0.28 IFB LCOS ranges from $0.125/kWh at 8 hours to $0.193/kWh at 24 hours, while LFP ranges from 0.26 $0.143/kWh at 8 hours to $0.276/kWh at 24-hour 0.24 duration
Slide 12: In-House Core Technology Production
In-House Core Technology Production Engineering, Procurement, & Construction (EPC) Cost Control ESS to manufacture core technology in-house Balance of system and industry standard site while balance of system can be procured directly equipment are procured close to project site from from ESS ecosyst
Slide 13: Recent Win Case Study: CTC & Air Force Research Lab
Recent Win Case Study: CTC & Air Force Research Lab Partnered with CTC to win the Large Capacity Energy Storage project in Fairbanks, AL Overview Project Details • US Air Force project to increase resiliency at critical military base 3MW / 27MWh • 3MW project with 9hours of rated duration, which ESS
Slide 14: Recent Capital Markets Highlights
Recent Capital Markets Highlights ($ in millions) FY 2025 FY 2024 Change (%) Recent Highlights Revenue $1.6 $6.3 (75%) • Continued reductions in cost of revenue and operating expenses reflective of cost Gross Profit (Loss) ($27.7) ($45.4) 39% reduction efforts Operating Expenses $29.7 $44.4 (33%) •
Slide 15: Leadership Team
Leadership Team Industry Veterans Focused on Delivery Drew Buckley Kate Suhadolnik Kelly Goodman Chief Executive Officer Chief Financial Officer Chief Strategy Officer & Gen. Counsel • 20+ years of experience focused on • 14 years of experience in investing in publicly traded small- finance & accoun
Slide 16: Investment Summary
Investment Summary • Demand for power is inflecting, with traditional sources diminishing • 10-20 hour “Energy Base” LDES for 24/7 renewables • Commercial momentum: $9.9 million contract with CTC and AFRL at Clear Space Force Station (Alaska) • Project New Horizon pilot project with SRP/Google • Cap
Slide 17: Catalyzing a Cleaner Future. Every Day.
Catalyzing a Cleaner Future. Every Day. Company Investor Relations ESS Inc Chris Tyson 26440 SW Parkway Ave Executive Vice President Wilsonville, OR 97070 MZ Group - MZ North America 949-491-8235 GWH@mzgroup.us essinc.com NYSE: GWH essinc.com